Harrod, Allen County, Ohio Property Taxes
The median property tax rate in Harrod, OH is 1.35%, which is higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $126,950 in Harrod, the typical annual property tax bill is around $1,720, which is below the national median of $2,690. Property taxes in Harrod are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. By understanding Harrod's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Harrod or another part of the city, a thorough grasp of the local property tax system is essential for maximizing financial benefits.
Last Updated June 14, 2024
Harrod, Allen County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$1,714
$1,590
Ownwell’s Harrod Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harrod with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harrod to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Harrod, Allen County, Ohio
Property taxes in Harrod, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harrod is 1.35%, which stands above the U.S. national median of 0.99%. Local government entities within Harrod set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harrod estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Harrod's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 45850 has both the highest and lowest median property tax rate of 1.35%. Understanding how these cities compare with Harrod provides valuable insights into the varying tax landscape across Allen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harrod Tax Rate
1.35%
Average Allen County Tax Rate
1.57%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harrod, Allen County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45850 | 1.15% | 1.33% | 1.35% | 1.39% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Harrod, Allen County, Ohio
In Harrod, Ohio, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Allen County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Harrod, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Harrod helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Harrod is $126,950, with the highest median tax bill found in zip code 45850 at $1,720.
Property Tax Assessment Values Across Harrod, Allen County, Ohio
Source: Ownwell
$35,400
$115,575
$195,750
Average Harrod Assessed Value
$126,950
Average Allen County Assessed Value
$103,100
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harrod, Allen County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45850 | $41,780 | $78,825 | $126,950 | $185,050 | $245,920 |
Source: Ownwell
Property Tax Bills Across Harrod, Allen County, Ohio
In Harrod, located in Allen County, OH, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the market value, which is periodically evaluated by county officials. Factors such as property size, location, and improvements are considered when determining the market value. For homeowners, this means that a median home priced at $126,950 will have varying tax bills depending on where it falls within the assessed value spectrum. For instance, the 25th percentile tax bill is around $1,093, while the 75th percentile reaches $2,481, and the 90th percentile can climb to $3,291. These tax bills can significantly impact homeowners' annual budgets, especially when compared to the national median property tax rate of 0.99%. In Harrod, the highest and lowest median tax bills are both recorded at $1,720 in the 45850 zip code, highlighting the uniformity in tax assessment within this area.
Average Harrod Tax Bill
$1,720
Average Allen County Tax Bill
$1,550
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Harrod, Allen County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45850 | $567 | $1,093 | $1,720 | $2,481 | $3,291 |
Source: Ownwell